help with my biggest expense- taxes and insurance

[enjoy the ride]

After reading some postings about food being a number one expense, I decided to add together a quick total of the taxes I pay and insurance.

Just adding the things I could quickly think about ( not including taxes on gasoline or other not tracked items) my yearly taxes are about $7000 per year and my insurance $5800 per year- a total of $12,800 or $1066 per month. This is about half of my income!!!!!

The taxes include federal and state taxes, utility taxes, property taxes, sales tax, driver's licence and truck registrations, septic inspection, voter passed bonds. I did not include gasoline tax as I don't really know what it is.

The insurance includes house, auto, health and long term disability.
I have checked around and got the best deal I could I think.

Lest you think I am really rich - the house is about 1500 sq ft on 2.5 acres, my truck is 15 years old and I shop at dicount places for anything I buy.

So I try to buy off craigs list and stuff to avoid sales taxes, I try to minimize my use of utilities but still every govenment agency is looking for more.

What does anyone else do about this?talking about more taxes- yikes.

 

[miss_thenorth]

Every year, we shop around for th best insurance rates. Insurance is a necssary evil and taxes ar inevitable. I think people tackle other things like groceries, bcause they more within their control.

We just got our tax assessment--not the dollar amount yet, but they informed us our property value went up $8000 from last year and will continue that for the next 4 years at least. If that continues, we will not be able to afford to live here. My dh is going to fight our property taxes. It is like beating a dead horse, but one has to try.

I'm hoping this will be an interesting, informative thread. Aside from doing anything illegal, I hope there will b valid, doable tips exchanged here.

 

[enjoy the ride]

MTN- he defitely should fight it- most people don't but around here anyway, people who do win a reduction about half the time.
Researching the basis for determining the value would be a good idea- most assessors assume you have more than you might have or that everything's got a "blue Book" value.

 

[FarmerChick]

between insurance and (all) taxes it is truly rough to lower these items without making DRASTIC changes in one's lifestyle.

the property tax is what it is for your area. Either sell and get a min. amt. of land and a small (way small) house, etc. is the only way to combat that most times. Mine rose when the stupid gravel road got paved too years ago. my value went up $6K on the house cause of the road, therefore more taxes. My stupid addition to the house will be more value and therefore more taxes.
UGH

insurance is hard also. again, it is what it is for the coverage you want. I shopped and stay with USAA cause dollar for dollar it is the best coverage at the best price for me. But I sure don't want to pay it..HA HA


honestly ETR the only way to fight these types of things, taxes and all the fees, all the property taxes etc. is NOT to own anything. That is the only thing I can truly think of to stop most of those costs. Just don't own anything.

I told Tony that the vehicle tax on the camper and trucks, road-worthy trailers etc. I have is killing us in costs. Every minute a new bill comes in for tags, taxes, etc. on everything we own. I constantly say the only way to stop these bills is to sell what we own and not own anything.

UGH

the more you own, the more you pay. the more you pay, the more you can't afford new things.....vicious cycle.

I am seriously land poor. My 120 acres costs me dearly in property taxes and being termed agricultural, whoopee, it only saves me like $800 per year....that ain't much of a difference to me..HA HA...when I pay so much.

You hit one of my pet peeves and like you, I don't know how to combat those costs without just selling it all. and I can't do that for everything..LOL

I just don't know...

 

[k0xxx]

Taxes aren't a big problem for us. Property tax, after a $300 exemption for being our primary residence, runs us only $65 per year. Sales tax is 8.5 % though. Being on SSI and having a very disability small pension, I don't pay state or Federal taxes.

Insurance is our largest expense. Our old car costs about $800 per year (liability only). Kinda silly when you consider our home is insured at only $750 for the year.

Health, dental, and vision insurances costs me a whopping $5400 a year. I have medicare, but I have to keep paying at the family rates for my (ex)employer insurance, so that my wife remains covered.

All in all, we're not bad off. If my property taxes were as high as in some other states, I'd have to drop all of my insurances just to pay it. So, I'm not complaining!

 

[roosmom]

Cant get insurance on our house
Cant do anything about groceries, gas etc taxes, lol
Carry full coverage on both vehicles w-no deduc cuz it is only about $5 a month less for plpd
House taxes are about 400 a year

They only thing I may be able to contribute to this post is......I know that you get some kind of discount if you plant trees on your property and call it a tree farm....at least here in michigan.